iA Global Asset Management Inc. Trims Stake in Merck & Co., Inc. (NYSE:MRK)

Key Points

• iA Global Asset Management Inc. has reduced its holdings in Merck & Co., Inc. by 12.3%, now owning 114,785 shares valued at approximately $10.30 million.
• Institutional investors currently own 76.07% of Merck's stock, indicating strong institutional confidence in the company.
• Merck recently announced a quarterly dividend of $0.81, representing an annualized yield of 4.1%.

iA Global Asset Management Inc. lessened its stake in shares of Merck & Co., Inc. (NYSE:MRK - Free Report) by 12.3% during the first quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The fund owned 114,785 shares of the company's stock after selling 16,052 shares during the quarter. iA Global Asset Management Inc.'s holdings in Merck & Co., Inc. were worth $10,303,000 as of its most recent SEC filing.

A number of other large investors have also recently made changes to their positions in the stock. Semus Wealth Partners LLC boosted its holdings in shares of Merck & Co., Inc. by 8.2% in the first quarter. Semus Wealth Partners LLC now owns 5,039 shares of the company's stock worth $452,000 after buying an additional 382 shares during the last quarter. Quilter Plc raised its position in Merck & Co., Inc. by 5.6% in the first quarter. Quilter Plc now owns 1,180,797 shares of the company's stock worth $105,988,000 after acquiring an additional 62,933 shares during the period. Simplicity Wealth LLC boosted its stake in shares of Merck & Co., Inc. by 991.7% during the 1st quarter. Simplicity Wealth LLC now owns 33,394 shares of the company's stock worth $2,997,000 after acquiring an additional 30,335 shares during the last quarter. China Universal Asset Management Co. Ltd. grew its position in shares of Merck & Co., Inc. by 13.8% during the 1st quarter. China Universal Asset Management Co. Ltd. now owns 56,566 shares of the company's stock valued at $5,118,000 after acquiring an additional 6,850 shares during the period. Finally, Advisor OS LLC increased its stake in shares of Merck & Co., Inc. by 0.9% in the 1st quarter. Advisor OS LLC now owns 32,558 shares of the company's stock worth $2,922,000 after purchasing an additional 293 shares in the last quarter. 76.07% of the stock is currently owned by institutional investors.

Analyst Ratings Changes

Several equities analysts recently weighed in on the company. Cantor Fitzgerald downgraded Merck & Co., Inc. from an "overweight" rating to a "cautious" rating in a research report on Tuesday, May 20th. Guggenheim reiterated a "buy" rating and set a $115.00 price objective on shares of Merck & Co., Inc. in a research note on Thursday, April 17th. Morgan Stanley decreased their target price on shares of Merck & Co., Inc. from $99.00 to $98.00 and set an "equal weight" rating on the stock in a research note on Thursday, July 10th. Wall Street Zen cut shares of Merck & Co., Inc. from a "strong-buy" rating to a "buy" rating in a research note on Friday, April 25th. Finally, Wells Fargo & Company lowered their target price on shares of Merck & Co., Inc. from $97.00 to $90.00 and set an "equal weight" rating on the stock in a research note on Wednesday, July 30th. One equities research analyst has rated the stock with a sell rating, twelve have given a hold rating, seven have given a buy rating and one has given a strong buy rating to the stock. According to MarketBeat, Merck & Co., Inc. presently has an average rating of "Hold" and a consensus price target of $107.44.

Merck & Co., Inc. Price Performance

Shares of MRK traded up $0.85 during mid-day trading on Thursday, hitting $80.29. 10,826,251 shares of the stock were exchanged, compared to its average volume of 12,582,423. The company has a debt-to-equity ratio of 0.69, a quick ratio of 1.16 and a current ratio of 1.42. The company has a market cap of $200.54 billion, a PE ratio of 12.37, a price-to-earnings-growth ratio of 0.84 and a beta of 0.38. Merck & Co., Inc. has a 52-week low of $73.31 and a 52-week high of $120.30. The firm has a 50-day moving average of $80.66 and a two-hundred day moving average of $84.13.

Merck & Co., Inc. (NYSE:MRK - Get Free Report) last posted its earnings results on Tuesday, July 29th. The company reported $2.13 earnings per share for the quarter, topping analysts' consensus estimates of $2.03 by $0.10. The firm had revenue of $15.81 billion for the quarter, compared to the consensus estimate of $15.92 billion. Merck & Co., Inc. had a net margin of 25.79% and a return on equity of 41.05%. On average, equities analysts predict that Merck & Co., Inc. will post 9.01 earnings per share for the current year.

Merck & Co., Inc. Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Tuesday, October 7th. Stockholders of record on Monday, September 15th will be issued a $0.81 dividend. The ex-dividend date is Monday, September 15th. This represents a $3.24 dividend on an annualized basis and a dividend yield of 4.0%. Merck & Co., Inc.'s payout ratio is 49.92%.

Merck & Co., Inc. Profile

Merck & Co, Inc is a health care company, which engages in the provision of health solutions through its prescription medicines, vaccines, biologic therapies, animal health, and consumer care products. It operates through the following segments: Pharmaceutical, Animal Health, and Other. The Pharmaceutical segment includes human health pharmaceutical and vaccine products.